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A CSAT score or Customer Satisfaction Score reflects how customers feel about a brand, its product, or its services.A CSAT survey helps collect customer feedback to understand how happy or unhappy they are about their experience with the company. The score quantifies their satisfaction allowing the company to identify the pain points in the customer journey.
The CSAT score is relevant for the company to develop strategies to improve customer experience and increase customer retention.
The average CSAT score ranges between 75% and 85%. The CSAT benchmark for different industries varies greatly. According to ACSI, American Customer Satisfaction Index, the U.S. had an overall score of 74.4%. Some other industry benchmarks are as follows:
A CSAT score range can be simply divided into unhappy, neutral, and happy scores. Let’s take the example of a 7-point scale. On a 7-point scale, 4 is the midpoint. With the direction of range from 1 as ‘unhappy’ and 7 as ‘happy’, any score after 4 is considered a good score.
CSAT scores from 5 to 7 are considered a HAPPY or positive score. You can use the general formula of CSAT to identify the percentage of customers who are happy with your services and their own experience.
CSAT score = total no. of happy responses/ total no. of collect responses X 100
For example, say you have collected 80 responses in total and 52 of those were happy or positive responses. Your CSAT score will be
CSAT score = 52/80 X 100 = 65%
You don’t need to perform any large analysis to figure out the data. While it may not provide any crucial insight this is an easy and simple method to gauge the customer’s feelings toward the brand and its products/ services.
You can figure out who the happy customers are and also the unhappy customers. This way you can follow up on the customers who are unsatisfied with your brand to understand their reason. You can then decide how to resolve the unhappy customers and retain them.
The most common CSAT question is
How satisfied are you with our Brand/Product/Service on a scale of 1 to 10?
You can use the scores received from every customer on this question and calculate an average of it to receive your CSAT score.
CSAT score = Sum of all scores received/ Sum of maximum score X 100
To understand this let’s take an example. Let’s say, you have surveyed 10 customers so the maximum score is 100.
Now let’s say, the customers gave scores as follows: 5, 7,7,6,4,2,9,8,8,9. The sum total of these scores is 65.
So the CSAT score = 65/100 X 100 = 65%
When calculating the average score you don’t just consider the ‘satisfied’ score but all the scores. Moreover, you calculate the individual scores you receive against the total score. You can follow up with the customers who gave low-score and identify their issues to help them have a better experience. Also, you can identify your customers who gave high-score and identify your loyal customers to continue giving them a seamless experience.
You must have been asked to leave a star rating when you use the Amazon shopping app, or Google Play Store.
Star rating is an easy way to collect CSAT scores and most of the customers are familiar with how this works. You can simply ask your customers/ web-users to leave a star rating after they complete a task. You can then advertise the CSAT score by showing the percentage of the audience who gave you a 5-star rating.
CSAT score = No. of stars received/ sum of maximum stars possible X 5
This is simple to use for your customers and for you to figure out how satisfied your customers are with your brand (product/ service).
Calculating the CSAT score is an easy task. The CSAT survey commonly asks a variation of single questions. The question is easy to understand and the response is even easier to provide. This increases the likelihood of a high response rate.
As mentioned it requires one question to calculate the CSAT score. You can simply add the question or star rating in the email or pop up the question or embed the star rating in your app for customers to respond after a service interaction.
It is an easy way to collect data and so with the rise and fall of the CSAT score in the market you can collect the score any time. You can monitor your CSAT score with the industry benchmark with ease.
CSAT score gives you quantitative data. It tells you how many customers are satisfied with your brand. It helps you create groundwork before you dive into more details. It gives you data to determine what you need to do, and which customers to prioritize.
A CSAT score is a metric used to quantify how many customers are happy with their experience with the company. It is a simple method to determine the percentage of customers satisfied with their interaction and experience with a company.
CSAT score provides quantitative data. By asking customers to rate their satisfaction level with the company, its products or services, you can collect numerical data. The resulting data tell you the percentage of satisfied customers.